Financial Blog Corliss Group: Desperate for breathing room - 1 views
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Valerie Fremont on 22 Mar 14The slowdown in the economy after 2010-11 has had a ripple impact on the fortunes of India Inc. and lenders alike. With gross domestic product (GDP) growth decelerating from 8.4 per cent in 2010-11 to the sub-five per cent level in the first three quarters of the current financial year, the number of companies seeking succour from lenders under the aegis of the corporate debt restructuring (CDR) cell had almost doubled to 605 as of December 2013 against 305 as of March 2011. Further, there has been a 194 per cent jump, from []1,38,604 crore at the end of March 2011 to []4,07,656 crore as of December 2013, in the amount of loans that came up for recast. Therefore, it is not surprising that bank managements, in their internal meetings and conferences with the media and analysts, are devoting as much time fielding questions on the loans that had to be restructured in a quarter vis-à-vis loans that have gone sour. More related issue from Corliss: http://corlissonlinegroup.com/ http://corlissonlinegroup.com/blog/ http://corlissmag.livejournal.com/
